Football Leagues are Launching NFT Collectibles to Generate a New Source of Income Amid the Pandemic Impact on Revenue

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Football Leagues are Launching NFT Collectibles to Generate a New Source of Income Amid the Pandemic Impact on Revenue

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Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) — The “Latin America NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels – Q2 2022” report has been added to ResearchAndMarkets.com’s sacrifice.

The NFT industry in Latin America is expected to grow 48.4% YoY to reach US$5871.1 million in 2022.

The NFT industry is expected to grow steadily over the forecast period, with a CAGR of 34.8% during 2022-2028. The NFT spending value in the country will increase from US$5871.1 million in 2022 to reach US$31994.3 million by 2028.

The non-fungible token (NFT) market in Latin America has undergone strong expansion in recent years. The presence of Brazilian sports players on NFT marketplaces has supported the widespread adoption of NFTs among the general public.

In addition, the adoption of NFT in the art industry has also grown significantly in these countries. Adoption by visual artists and some famous names in the music industry is supporting the growth of the NFT industry in Brazil.

With the NFT industry recording strong growth over the past four quarters in Brazil, NFT marketplaces are looking to tap into the high-growth market potential. As a result, firms are entering into strategic partnerships with Brazilian soccer players, who have millions of fans across the country and worldwide, seeking to drive their growth in the NFT market.

As the popularity of NFTs continues to rapidly gain momentum worldwide, the publisher expects an increasing number of sports teams to collaborate and launch NFTs soon.

NFT marketplaces in Brazil are choosing an eco-friendly way to attract more artists to their platform, which will later help them drive their growth.

Hic et Nunc, one of the leading Brazil-based NFT marketplaces for artists worldwide, creates works of art on the Tezos blockchain, which consumes only a fraction of the energy of its rival blockchains, such as Ethereum. In addition, the energy-efficient Tezos blockchain costs only 30 cents compared to US$200 for performing a single transaction on the Ethereum blockchain.

As the popularity of NFTs continues to grow worldwide, Brazilian startups and artists are creating NFT collections and raising millions of dollars by selling them.

In March 2022, Lumx Studios, one of Rio de Janerio’s leading startups developing experiences in the metaverse, announced that the firm had earned R$2 million by entering the NFT market with the 55Unity collection. To date, the 55Unity collection remains the largest collection project, with 3,000 tokens sold in 28 hours.

In September 2021, Monica Rizzolli announced that the generative art NFT collection, Fragments of an infinite field, was sold at auction for R$28.35 million.

The publisher expects similar trends to develop in the Mexican NFT market in two to three years. Several brands have already started mixing NFT into their marketing strategies with increasing frequency. This trend is expected to intensify in the country from the short to medium term perspective as the awareness and acceptance among customers continues to grow in Mexico. Thus, the publisher expects the increasing adoption of NFTs among brands to drive the market’s future growth in the country.

Music festivals use NFTs as part of their marketing strategies in Mexico. Over the past 12 months, NFT popularity has grown steadily. In the growing conversations about NFTs in Mexico, music festivals have started using NFTs as part of their marketing strategies.

In March 2022, Cerveza Tecate Pa’l Norte, one of the largest music festivals in Mexico, announced the creation and sale of NFTs. In particular, the NFTs, created specifically for the event and loaded with lifetime benefits for the owners, were part of Cerveza Tecate’s marketing strategy.

Soccer leagues launch NFT collectibles to generate new source of revenue amid pandemic impact on revenue

In April 2021, Liga MX, the top soccer league in the country, announced that it would launch the NFT collection at the start of the 21’/22′ season, which was expected to start at the end of August 2021. NFT collection, Liga MX entered into a strategic collaboration with Bondly, the NFT marketplace that auctioned the NFTs.

Notably, Liga MX is one of the first soccer leagues to introduce NFT collectibles. Globally, several individual teams have entered the NFT space and announced sales of their collectibles.

Football clubs enter into strategic partnerships with NFT platforms to launch NFT collectibles

Various global soccer clubs and players are entering the NFT space to launch their NFT collectibles. Similar trends are visible in Mexico, where soccer clubs are partnering with global NFT platforms to launch their NFTs.

In February 2022, the Atlas Futbol Club announced that the club entered into a strategic partnership with Sorare, the French NFT platform, which enables fans to trade NFT cards of their favorite players.

NFTs help communities rebuild an underserved Mexican village

Due to its geographic location, Akumal, a small town in Mexico’s Yucatan Peninsula region, most government funding for development projects could not reach the village. This is why most of the region and the population remained underserved for many years. However, things began to change when a local bakery owner, Jennifer Smith, launched Akumal Arts Festival in 2018.

The event especially attracted artists worldwide who visited the region to decorate the town with beautiful images. The art festival attracted the attention of local authorities, and now small development work is taking place in the region. However, in 2022, thanks to NFTs, the Akumal Arts Festival is expected to help the Akumal community rebuild the underserved Mexican village.

In January 2022, hundreds of artists worldwide gathered in Akumal for the festival under the sponsorship of Third Rail Art. These artists created murals, organized various community-driven interactive programs and held workshops during the Art Festival.

In April 2022, Third Rail Art dropped animated NFTs of some selected murals from the festival onto its street art NFT platform. Called the NFT-4-GOOD collection, 85% of the proceeds from the NFT are expected to go to the Akumal Cultural Foundation. These NFTs were designed by artists who created the original murals in collaboration with Cryptic Gallery.

As the NFT market matures and develops in Mexico, the publisher expects more innovative NFT use cases to emerge over the next three to four years. This will continue to support market growth from the short to medium term perspective.

Cryptocurrency exchanges turn popular Mexican games into a Solana-based NFT experience

Among the growing number of use cases, raising funds through NFTs is the most common. Many organizations worldwide use NFTs to raise funds for non-profit organizations. Similar trends are especially seen in Mexico, where cryptocurrency exchanges are turning the famous Mexican game into a Solana-based NFT experience.

In October 2021, FTX, one of the leading cryptocurrency exchanges, announced that the firm is turning the famous Mexican game Loteria into an NFT-centric game on Solana. In particular, the firm said that the funds from the project will benefit the non-profit organization. The non-profit organizations that will benefit from the project include the Hispanic Heritage Foundation, the Rising Tide Network and Latino Community Foundation.

This is a bundle offering that combines 6 reports, covering regional insights along with data-centric analysis at regional and country level:

1. Latin America NFT Market Insight Brief
2. Latin America NFT Market Intelligence and Future Growth Dynamics Databook
3. Argentina NFT Market Intelligence and Future Growth Dynamics Databook
4. Brazil NFT Market Intelligence and Future Growth Dynamics Databook
5. Colombia NFT Market Intelligence and Future Growth Dynamics Databook
6. Mexico NFT Market Intelligence and Future Growth Dynamics Databook

Extent

This report provides an in-depth, data-centric analysis of NFT Market and below is the summary of key market segments:

NFT Market Size and Forecast by Key Assets, 2019-2028

  • Collectibles and Art

  • Property

  • Sport

  • Games

  • Utility

  • Fashion & Luxury

  • Other

NFT Market Size and Forecast by Key NFT Collectible Assets, 2019-2028

  • Digital art

  • Music & Soundtrack

  • Videos

  • Memes and Poison

  • Other

NFT Market Size and Forecast by Currency, 2019-2028

  • Ethereum

  • Solana

  • Avalanche

  • polygon

  • BSC

  • Flow

  • Wash

  • Ronin

  • Other

NFT Market Size and Forecast by Sales Channels, 2019-2028

User statistics, 2019-2028

For more information on this report visit https://www.researchandmarkets.com/r/3p79wq

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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